From the arrival of 643 thousand medical tourists in 2011 to more than 1.2 million in 2018, to become a leading global destination for international patients in Asia and beyond, Malaysia has grown its health tourism industry. From a revenue of USD 127M in 2011, the medical tourism business generated more than $362 million from the market in 2018.
What exactly is the secret behind Malaysia’s phenomenal growth? According to the recent analyses, there is solid governmental participation in the market & formidable public-private healthcare collaboration. The success lies behind the creation of an agency which is the Malaysia Healthcare Travel Council (MHTC), loaded with the responsibility of promoting Malaysia as a medical tourism destination by restoring its international healthcare brand.
The Malaysia Healthcare Travel Council, an agency under the country’s Ministry of Finance, is energetically advancing the country’s medical tourism market base, targeting more & more international patients. Whereas the main sources of medical tourism arrivals to the country are the Philippines, the UK, Indonesia, Australia, Japan, China, India, and the US, the MHTC is actively looking to set up strong market ties with the countries in the Middle East & member countries of the Association of Southeast Asian Nations (ASEAN).
The Malaysia Healthcare Travel Council is promoting its 79 hospitals to Brunei, Vietnam, Cambodia, Myanmar, & Middle Eastern countries such as Saudi Arabia, Qatar, and Oman.
Apart from promoting its healthcare brand to other countries, the efforts of the council at improving healthcare quality, affordability, & superior patient experience have resulted in a compound annual growth rate of 16 – 17% over the past five years. This is ahead of the global average of 10 – 12% and the Asia-Pacific’s average of 12 – 14%.
The Malaysia Healthcare Travel Council estimates that by 2020, over two million international patients would visit Malaysia, increasing its revenue to around USD 680 million.